Dallas area couples can benefit from prenuptial agreements in many ways including asset protection, reputation protection and estate planning security.
Many Dallas couples may think of prenuptial agreements as only useful for very famous or rich people. Certainly, these contracts are highly beneficial for those persons in high-asset marriages but that is far from the only situation in which they can be utilized. As American society has evolved over the past several decades, the benefits of prenuptial agreements have also evolved, making them viable for almost any couple.
Protecting inheritance rights in a remarriage
It is far more common today than in past generations for people to get married for the second or third time. In these situations, the partners frequently have children from their prior marriages. Regardless of the ages of those children, each person entering into the marriage can logically wish to ensure that select assets are received by their own children after death.
A prenuptial agreement can identify property owned before marriage for each person and what shall happen to that property upon the death of each spouse, according to the New York Daily News. This can put concerns of not just the spouses but of the children and other family members at ease and avoid unnecessary challenges in the future.
Protecting reputations in the event of a divorce
Financial assets are not the only things worthy of protection in the face of a divorce. The ability for each partner to maintain a good public reputation should be respected as well and today’s marital contracts can help to make sure that happens.
Fox News describes what is being referred to as social media clauses. More and more prenuptial agreements today are including these provisions. The goal is to indicate what each party can or cannot publish on social platforms about the other person during or after a divorce.
It is important when drafting these provisions that all stipulations are achievable and reasonable. Calling out specific ways in which harm can result from negative posts, such as the potential loss of business, is one tactic recommended in order to make such clauses more useful and enforceable. Contracts can even list specific social platforms such as Instagram or Facebook.
The Huffington Post also suggests that a focus on being reasonable in any clause within a prenuptial agreement, social media clauses included, should be kept as a way to avoid a contract from being considered invalid later on.
Get professional assistance
When drafting a prenuptial agreement, receiving proper guidance is a must. Interested parties in Texas should always contact an attorney for help in this situation.